no down payment mortgage

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I need to know how to get the HOMEownership Down Payment Assistance Program of Virginia Department of Housing and Community Development , like how it works and amount available for down payment through this program

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

Hi Dolfen,

Virginia Department of Housing and Community Development assist homebuyers meet down payment, closing costs and prepaid costs such as costs involved in establishment of escrow account through funds from federal HOME Partnership Investment Fund (HOME).

The assistance is provided to people having income below 80% of area median income. A buyer who meets the income requirement can get up to 10% of the home's price for down payment in addition to $2500 for meeting closing cost expenses like title insurance, attorney fees, taxes etc.

Miller

blue · Posted: Fri Jun 15, 2007 1:26 pm Post subject:

Hi Dolfen,

Welcome to Mortgagefit discussion board.

These funds which can be used for down payment & closing costs are administered using local partnerships with mortgage lenders, nonprofit housing service providers & governmental entities throughout the state. These funds are provided on first-come, first-served basis.

Read more about the program from this page: HOMEownership Down Payment Assistance Program.

Do let me know if you want any other details.

Thanks
Blue

gmakerley · Posted: Sun Dec 09, 2007 9:13 am Post subject:

you should go to their website first...www.vhda.com
i think that is your best bet; not only will that give you information, but there ought to be plenty of opportunity to ask questions too

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